Locus robotics announces $117 million in Series F funding, bringing its valuation close to $2 billion
• Strategic round of funding accelerates industry leadership in fast growing warehouse automation space
• New board members Goldman Sachs Asset Management and G2 Venture Partners to support Locus’s next phase of growth
Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfillment and distribution warehouses, today announced $117 million in Series F funding, led by Goldman Sachs Asset Management and G2 Venture Partners. As part of the financing, Mark Midle, Managing Director, Goldman Sachs, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus Board of Directors, bringing their unique industry perspectives and insights to further guide Locus’s next stage of growth and global expansion.
“Locus has established itself as an innovative, high-quality market leader for flexible automation in the massive warehouse fulfillment and distribution market,” said Mark Midle of Goldman Sachs. “Our investment reflects our view that Locus has the product offering and the operational excellence required to meet and exceed the market challenges posed by today’s dynamic economic environment.”
“This new round of funding marks an important inflection point for Locus Robotics as we look toward our next stage of growth, and we strategically chose to bring in investors with a wealth of experience in both public and private markets to advise us as we continue our journey,” said Rick Faulk, CEO of Locus Robotics. “As the rapid digital transformation of the supply chain continues, warehouses increasingly seek flexible, intelligent robotics automation to improve productivity and grow their operations, despite ongoing labor shortages and exploding order volumes.”
The Locus warehouse execution platform disrupts large-scale warehouse fulfillment and distribution with an industry-leading, intelligent, and dynamically scalable robotics-driven solution. Locus delivers 2X-3X productivity by seamlessly coordinating both human labor and AMRs to dramatically improve order fulfillment efficiency and workplace ergonomics, while lowering operational costs.
“Locus is clearly a winner in the flexible warehouse robotics space, and the consistency with which the Locus team has executed is extraordinary,” said Zach Barasz of G2 Venture Partners. “We are thrilled to be investors in Locus Robotics, and to partner with the leading warehouse execution company in making global supply chains faster, more cost-effective, and more resilient and sustainable.”
With more than 230 sites under contract around the world – some having as many as 500 LocusBots per site – the Locus solution efficiently and seamlessly orchestrates the operation and management of multiple robot form factors, and provides forward-looking, real-time business intelligence, critical for optimizing productivity, proactively managing labor, and managing costs.
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